LONDON (AP) — Shell has effectively abandoned a plan to cut oil production by 1-2% per year until the end of the decade, instead maintaining output at current levels in a move that risks angering climate activists. Ahead of an investor update in New York on Wednesday, Europe's largest energy company argued that it had already met the target it had set for itself in 2021 through asset sales. London-based Shell said it had seen its production drop from 1.9 million barrels of oil equivalent [Read more]
Cenovus fined after wastewater release from former Husky-owned pipeline
CALGARY - Cenovus Energy is facing a fine over a release of wastewater into a wetland. In 2020, a pipeline then belonging to Husky Oil released about 206 cubic metres of produced water through a break in the line and into the surrounding wetland. Cenovus, which merged with Husky in 2021, has been assessed a $140,000 fine by the Alberta Energy Regulator after pleading guilty in provincial court. Money from the fine will be used to improve wetlands in ways that improve [Read more]
Both sides in Canada-U.S. pipeline debate clash today over cross-border Line 5
WASHINGTON - North America's existential debate about the virtues and dangers of oil and gas pipelines faces a critical test today in Wisconsin. That's where a district court judge will hear arguments about whether or not to shut down Line 5, a critical cross-border energy conduit between Canada and the U.S. The Bad River Band of the Lake Superior Chippewa says spring flooding has rendered the risk of a breach on its northern Wisconsin territory too great to ignore. Alberta-based [Read more]
Canada ‘extremely concerned’ about fate of Line 5 pipeline in Wisconsin, embassy says
WASHINGTON - Canada's embassy in Washington says it is "extremely concerned" about the fate of the Line 5 cross-border pipeline. A court hearing Thursday in Wisconsin could determine whether the pipeline, owned and operated by Enbridge Inc., is allowed to continue operating. The Bad River Band of Lake Superior Chippewa says spring flooding has heightened the risk of a rupture and it wants a federal judge to shut the line down. A strongly worded statement from the embassy says doing so [Read more]
Nature could be a challenge for Line 5
WASHINGTON - The Canada-U.S. oil and gas conduit known as Line 5 could be facing its toughest challenger yet: the very watershed the pipeline's detractors are trying to protect. Spring flooding has washed away significant portions of the riverbank where Line 5 intersects Wisconsin's Bad River, a meandering, 120-kilometre course through Indigenous territory that feeds Lake Superior and a complex network of ecologically delicate wetlands. The Bad River Band of the Lake Superior Chippewa has [Read more]
Oilpatch restarts some production but wildfire risk remains volatile
CALGARY - Some oil and gas producers in Alberta are restoring production after temporarily halting operations earlier this week due to wildfires. More than 300,000 barrels of oil equivalent per day of production were curtailed in Alberta as wildfires raged across the energy-producing province this week. As of Friday, some companies have restarted operations as cooler temperatures and rainfall throughout the week brought relief in some areas of the province. Companies that have indicated [Read more]
Portion of Coastal GasLink construction paused over erosion, sediment control issues
CALGARY - TC Energy Corp. says it has proactively halted construction on a 20-km stretch of its Coastal GasLink project over concerns about erosion and sediment control. The Calgary-based pipeline company says the affected section of pipeline is located near the Little Anzac River north of Prince George, B.C. TC Energy says the region has been affected by challenging spring melt conditions caused by an abundance of snow this winter, a quick spike in temperatures, and heavy rainfall. The [Read more]
New Suncor CEO Kruger focused on cost-cutting, will ‘play to win’
CALGARY - The new top boss at Suncor Energy Inc. says he has a sharp focus on cost-cutting as he embarks on the task of improving performance at the oilsands giant. Rich Kruger, who took over as Suncor's new CEO on April 3, pledged Tuesday that the company will become a "simpler and more focused organization" under his leadership. On a conference call with analysts to discuss the company's first-quarter financial results, he promised to be candid, transparent, and operate with a "sense of [Read more]
Parkland rejects activist investor’s call to sell or spin off Burnaby refinery
CALGARY - Parkland Fuel Corp. said Thursday its Burnaby, B.C. refinery is not for sale, even in the face of pressure from an activist investor. The Calgary-based fuel retailer and convenience store operator has been the subject of a campaign by U.S.-based Engine Capital LP, which owns about a two per cent stake in Parkland. The activist investor has been calling on Parkland to consider selling or spinning off its Burnaby refinery in order to become a pure-play fuel marketer and [Read more]
Alberta regulator reconsiders Fort Hills oilsands approval after critical report
EDMONTON - Alberta's energy regulator is reconsidering a project it approved months ago after receiving a critical report on Fort Hills Energy's plan to mine oilsands from a unique carbon-storing wetland. In September, the Alberta Energy Regulator approved plans to mine a portion of the McClelland Lake Wetland Complex — a large and intact wetland once considered for environmental protection that lies partly within the company's lease. The approval came after a two-decade regulatory history [Read more]
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